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ECONOMY NEWS - Page 201
Most of Rs 7-lakh crore road project works to be awarded by December 2018: Nitin GadkariSubscriber Only
October 26, 2017 01:37 IST
Not a single paisa worth of corruption will happen, says road minister Nitin Gadkari,
Recap bonds likely to raise debt levels, push back rating upgradeSubscriber Only
October 26, 2017 01:30 IST
Rise in debt to GDP ratio, already high against similar BBB-rated countries, a concern, say experts.
Bank recapitalisation to boost investment, says Former RBI Governor Bimal Jalan
October 25, 2017 20:07 IST
"Even if fiscal deficit increases by 0.1 per cent or 0.2 per cent, on the larger prospective of economy it does not matter as long fiscal deficit is not on the account of revenue deficit but on the account of capital expenditure," he noted.
India should have 5-7 large banks ideally: Chief Economic Adviser Arvind Subramanian
October 25, 2017 17:55 IST
In an ideal banking world of tomorrow, India needs to have both large public sector and private sector banks, competing domestically and being competitive internationally, Arvind Subramanian said in a lecture at SGTB Khalsa College.
Chief Economic Adviser Arvind Subramanian pegs interest cost of recapitalisation bonds at Rs 9,000cr
October 25, 2017 16:02 IST
On Tuesday, Finance Minister Arun Jaitley unveiled an unprecedented Rs 2.11 lakh crore two-year road map to bolster NPA-hit public sector banks, which includes re-capitalisation bonds, budgetary support, and equity dilution.
Govt’s recapitalisation plan for PSU banks a ‘monumental step’: RBI Governor Urjit Patel
October 25, 2017 13:59 IST
Urjit Patel welcomed the government's decision and said that a well-capitalised banking system is a pre-requisite for stable economic growth.
India’s $32-billion bank recapitalisation plan lifts shares, raises questions
October 25, 2017 13:11 IST
The gains come after India's cabinet late on Tuesday cleared a plan to inject 2.11 trillion rupees ($32.4 billion) into state-run lenders over the next two years.
September GST mop-up at Rs 92,150 crore from nearly 43L taxpayers
October 25, 2017 05:30 IST
Till Monday 42.91 lakh business entities had filed initial GSTR-3B returns for September.
Infra projects worth Rs 7 lakh cr including Bharatmala cleared
October 25, 2017 05:25 IST
The Prime Minister’s Office, earlier this year, had asked for Public Investment Board’s (PIB) clearance to the first phase of the project. PIB, chaired by the expenditure secretary had later approved it.
Arun Jaitley: PSB fund infusion to come with series of banking reforms
October 25, 2017 05:22 IST
Move to encourage private participation and boost growth, says SBI chairman.
Govt has a 2-lakh-crore bank capitalisation plan to spur economySubscriber Only
October 25, 2017 07:25 IST
Finance Minister Arun Jaitley said the Indian economy is on a strong wicket, with growth having bottomed out and a rebound expected in the coming quarters based on the back of “strong macroeconomic fundamentals”.
GST revenues consistent, encouraging response from industry: Arun Jaitley
October 24, 2017 22:30 IST
On a day the government announced waiver of late fee for those who filed late tax returns for months of August and September, Arun Jaitley indicated rationalisation of GST tax slabs once revenue stream stabilises.
Government unveils Rs 9 lakh crore package to boost economy
October 24, 2017 20:49 IST
For last three years India has been fastest growing major economy in the world, Finance Minister Arun Jaitley said. "And our intention is that the high growth economy that India has become, we continue to maintain that position."
Arun Jaitley says Indian economy on strong wicket: Key takeaways from the Finance Ministry’s presser
October 24, 2017 20:18 IST
Finance Minister Arun Jaitley stated that India has been the fastest growing major economy for the last three years and that the attempt is to maintain high growth rate in coming years.
Finance Minister Arun Jaitley hits back at Rahul Gandhi’s ‘Gabbar Singh’ comment on GST
October 24, 2017 19:55 IST
"It is expected to provide boost to revenues, investment, and medium-term economic growth," it said. "Despite the teething troubles that the government and GST Council are addressing, initial results in the form of revenue raised seem encouraging."
Indian economy remains on strong wicket, says Arun Jaitley; insists GDP slide reversing
October 24, 2017 18:11 IST
Finance Minister Arun Jaitley maintained that India has been the fastest growing major economy for last three years, and that the attempt is to maintain high growth rate.
Govt waives fine for delayed filing of August, September GST returns
October 24, 2017 13:09 IST
Arun Jaitley said late fee which has been already charged to businesses will be credited back to taxpayers' accounts.
Mismatch between GSTR-1 invoice and exporters’ quoteSubscriber Only
October 24, 2017 02:00 IST
Rs 150 cr sanctioned so far against claim of Rs 753 cr of IGST paid on exports in July.
Tables turned: India loses momentum as other economies gather paceSubscriber Only
October 24, 2017 06:20 IST
As per IMF data, while the US & Japan are expected to grow 50 bps higher in 2017 than the growth seen last year and China likely to grow at 6.8% against 6.7% a year ago, India may witness a slower growth rate of 6.7% in FY18 over the previous year’s 7.1%
Fiscal deficit of 3.2% seems not difficult in FY18: SBI Report
October 23, 2017 15:16 IST
According to the report, though there are predictions that the government is going to have a big revenue slippage in 2017-18 which may impact fiscal deficit numbers, "such projections flunk the test of logical reasoning and are grossly misconstrued".
Rupee pares initial losses, still down 2 paise vs USD
October 23, 2017 11:23 IST
The BSE Sensex trading higher by 65.06 points, or 0.20 per cent, at 32,455.02 at 1030 hrs
GST needs rejig to cut burden on small businesses, says Hasmukh Adhia
October 23, 2017 08:24 IST
Revenue Secretary Hasmukh Adhia, however, said the rejig would require some calculations by the fitment committee, which will decide which items need a rationalisation of rate under the GST regime which kicked in from July 1.
September quarter earnings: Early birds report strong margins but dull profitsSubscriber Only
October 23, 2017 01:20 IST
While manufacturers of consumer durables are yet to announce their results, it would appear from Bajaj Finance’s growth in assets of 38 per cent y-o-y, during the quarter, consumers are willing to borrow to fund purchases.
RBI to make LEI must for cos with over Rs 5 crore exposureSubscriber Only
October 23, 2017 01:11 IST
Move to help in preventing multiple loans to firms against the same collateral.
GST rate structure needs complete overhauling: Hasmukh Adhia
October 22, 2017 13:52 IST
The 23rd meeting of the GST Council, chaired by Union Finance Minister Arun Jaitley and comprising of representatives of all states, will be held in Guwahati on November 10
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